Economy

Oy, Oy, Oy

Really, Mr. President?

I'm trying to think of anything positive that could come out of this, and I'm coming up empty. The president has likely made his biggest "gaffe" since the bitter remarks.

The upside is that the Republicans are so vocally against financial regulatory reform that it will be nearly impossible for them to capitalize on it.

Wait. Then again, they're the Republicans. They'll rip the president for this while also ripping the president for slamming Wall Street with fees and regulations.

Adding... To clarify, I don't think this is major thing. And, especially in context, what the president said wasn't necessarily untrue. Those guys are good at what they do, and success shouldn't be demonized. There are two problems, however. 1) The way Goldman and the other financials attained their success is partly by gaming the system, and putting the American economy in serious jeopardy. 2) The remarks, in that context, were politically ill-advised. You just don't give the financials any verbal latitude right now. They're the enemy.

As someone who was nearly swallowed whole by the recession, I just don't have a lot of patience for Wall Street, and it pains me to hear those guys on the receiving end of complimentary remarks.